Monday, February 28, 2005


During the "Bubble" in the late '90s some analysts equated parabolic Internet stocks to Commodities, as Fundamental Analysts changed their Earnings Growth parameter to "Future Earnings Growth"; now it seems that the stock market is indeed a market of Commodities after all, as the leading Industry Groups lately are Oil, Steel and other Industrial metals, Gold, even Uranium, and as of today, Dr. Copper. Whoever the leaders, the recent rallies - at least of big caps - have again failed at recent high levels again; the best hope would be a higher low and an upthrust to new highs on large Volume provided by M&As reducing shares;add corporate cash and sluggish Bonds, and IRA/Pension money.
The weekly Sentiment Indicators are certainly cooperating, remaining in neutral across the board, except for a Bullish AAII survey reading of 31.8% for both sides.

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